Very interesting question. One of the most important for digital nomads actually :) I am currently based in Playa del Carmen, Mayan Riviera, Mexico. This is one of the most expensive regions of the country but if you don´t mind living in a suburban part of the city in a very low-cost way, you can survive here with some 350 USD / month.
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I wouldn’t mind living in a suburb for sure as long as I have good transportation:). I’d also love to live on a beach :))
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Well, besides having to commute to the center, living in a suburb of Playa comes with another major disadvantage. These neighborhoods have an alarmingly high crime rate as this is where most of the drug-related crimes take place. There is a murder or a street shooting in these parts of the city almost every day now. Would you still live there? :D